Tips on dealing with an Insurance Adjuster for a Total Loss Package?

Question

HELP! I need tips on dealing with an Automobile Insurance Adjuster on a TOTAL LOSS PACKAGE. How do I know if I am being offered a "FAIR & EQUITABLE SETTLEMENT"?

How does one determine "ACV" for replacement Vehicles?

ANY SUGGESTIONS WOULD BE GREATLY APPRECIATED!!

Answer 1

You go to www.kbb.com, and type in your zip code and the details of your car, including milage and condition, and look for the "private party sale" value.  Then subtract your deductible from that - your offer should be 'around' that amount.

Answer 2

Honesty- as an insurance adjuster I can tell you i dont try to "low ball" you.  Nor have any other adjusters at both major companies i work for.  

its really simple- i have nothing to do with the actual cash value of your vehicle.  I simply put in your year/make/model/options/condition and a computer system we have looks up what similar cars are selling for in the area.  It then spits out the number... and i offer that amount.

Total loss settlements are rarely negiotible.  Why?  B/c we simply get that number from fact.  The ACV comes from what your car is selling for at local dealerships/ on auto trader etc.  And if people need proof i am more then happy to provide them with it.  

If they provide you the number.. and you truely think from your research that your car is selling for more.. provide them proof.  This may or may not change the offer.

Total losses arent like an injury settlement.  Insurance doesnt start with one offer and negiotiate with you.. it simple it what it is.

Remember your adjuster is a person to and would be more then happy to answer any questions you have.

Answer 3

Do a search for the same make, model and year of your car in your area that are for sale. Compare features and extras as well as mileage. Then you can also get the Kelly blue book value on your car in the condition it was in before the accident. Print these things up and have them with you when you meet the adjuster. Add in your expenses for rental car, or whatever else you had to pay for out of pocket because your car was totaled.

Ask questions about the amount he is offering you if it is lower than the results you find. Show him your research. He will more than likely try to offer you less, but you have the right to negotiate. If you are well prepared and have solid proof he will have no choice.

Good luck.